Nifty Heading towards All Time to High

  • FII bought 26.2 K contract of Index Future worth 2636 cores, Net OI has decreased by 45.4 K contract 2.6 K Long contract were covered by FII and 42.7 K Shorts were covered by FII. Net FII Long Short ratio at 1.04  so FII used rise to exit longs and exit shorts.
  • As Discussed in Last Analysis  Bulls were able to close above 15266 and did 1 target on upside and now waiting for 15377/15432 till we are holding 15266. We will see effect of Total Lunar Eclipse tommrow so be ready of explosive expiry. Bears will get active below 15257 for a move back to 15199/15147/15099.  We did not get the expolsive expiry but bulls were able to hold 15266 low made was 15272 and we did 1 target of 15377 and now heading towards all time high of 15432/15501. Today we have  Mercury – Venus Declination and Tommrow Mercury goes retrograde so strong trending move will be seen in next 2 trading sessions. Bears will get active below 15270 for a move back to 15220/15166/15101
  • Total Future & Option trading volume at 80 Lakh core with total contract traded 1.05 lakh , PCR @0.90
  • Nifty June Future Open Interest Volume is at 0.98 Cores with addtion of 25 Lakh with increase in cost of carry suggesting LONG position were added today, NF Rollover cost @15296 closed above it. 
  • 15500 CE is having Highest OI at 10.8 Lakh, resistance at 15500 followed by 15600. 15400-15500 CE added 12 Lakh in OI so bears added in range of 15300-15500.
  • 15200 PE OI@19 Lakhs having the highest OI strong support at 15200 followed by 15150. 15100-15200 PE added 8.9  Lakh in OI so bulls addded position in range 15100-15200.
  • FII’s sold 660 cores and DII’s bought 112 cores in cash segment.INR closed at 72.85

Buy Above 15390 Tgt 15412,15444 and 15477 (Nifty Spot Levels)

Sell Below 15325 Tgt 15300, 15278 and 15243 (Nifty Spot Levels)

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